CIBN to examine new forex policy

The Chartered Institute of Bankers of Nigeria says it is set to examine the likely effects of the new foreign exchange rate policy on businesses and the economy in general. The institute, in a statement on Monday, said participants drawn from key sectors of the economy would discuss the subject matter at a breakfast session, scheduled to hold in Lagos on Friday. The institute had about two weeks ago examined the likely effects of Brexit on the Nigerian banking industry.

The proposed forum is tagged, ‘Business dynamics under a flexible exchange rate regimes.’ Commenting on the programme, the President, CIBN, Professor Segun Ajibola, was quoted as saying, “The session is expected to x-ray the newly introduced flexible exchange rate regime by the Central Bank of Nigeria, the country’s business environment and peculiarities vis-a-vis other successful countries’ examples under a similar regime. Read more